Midweek Cash Markets | September 14, 2022

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CORN COMMENTS

The national average corn basis dropped another 18 cents but remained 20 3/4 cents above September futures. The national average cash corn price dropped 6 3/4 cents to $7.03.

Basis is better than the three-year average of 2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 33 cents but remained 65 3/4 cents above November futures. The national average cash price firmed 38 1/2 cents to $15.20 3/4.

Basis is much better than the three-year average of 17 1/2 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 5 cents to 43 cents under September futures. The average cash price firmed 34 cents to $8.29 1/4. SRW basis is much weaker than the three-year average of 17 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/2 cent to 41 1/4 cents below September futures. The average cash price firmed 46 cents to $9.05 3/4. HRW basis is weaker than the three-year average of 33 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $142.48 last week, down 40 cents from the previous week. This week’s cash trade started at steady to $1 lower prices, though volume was light. Last year, the cash price was $123.88.

Choice boxed beef fell $7.87 over the past week to $253.47. Last year, Choice boxed beef prices were $319.82.

HOG COMMENTS

The average lean hog carcass price dropped another $4.25 over the past week to $95.53. Last year’s lean carcass price on this date was $89.80.

The pork cutout value firmed $3.73 over the past week to $106.88. Last year at this time, the cutout price stood at $105.70.